Tuesday, November 10th, 2026
Parex Resources has found more gas and light crude at its VIM-1 block in Magdalena department, where a well drilled near the producing La Belleza field tested at 6,600 boe/d, and the company plans a new pipeline for mid-2027 to bring the gas to market.
Colombia’s environmental licensing authority, ANLA, will publish terms of reference for fracking, its director Sergio Piñeros said at the IX Oil, Gas and Energy Summit in Cartagena.
GeoPark CEO Felipe Bayón says Colombia can move directly to commercial development of unconventional resources without first running pilot projects, using the experience of the United States and Argentina.
Fracking could sustain oil and gas production in Colombia for about 100 years, according to Nelson Castañeda, president of the oil and gas chamber Campetrol, but only if the government provides legal and tax stability.
GeoPark reported third-quarter net profit of US$6.6 million, down from US$14.0 million in the second quarter and US$15.9 million a year earlier, as lower realized prices and hedging losses cut Adjusted EBITDA to US$45.8 million. Net profit included a US$12.4 million income tax benefit, mainly deferred tax in Argentina.
Colombians’ confidence in the Presidency rose in this year’s Barómetro Petrolero, but their view of the oil industry fell to the lowest in the survey’s history, while the share of executives planning to expand in Colombia jumped to its highest since 2019.
Colombia’s employer groups want the 2027 minimum wage raised by no more than about 9%, while union confederations are asking for much more than 10%, as the talks that decide the figure draw closer.
2026, Hydrocarbons Colombia, All Rights Reserved.
